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German ten-year yield rises

FXStreet (Mumbai) - German ten-year bond yield increased today after a strong PMI data helped erase growth concerns in the Eurozone’s largest economy.

The Ten-year bond yield is trading at 0.884%, up from the day’s low of 0.841%. The HSBC flash PMI Manufacturing and Services data showed the economic activity continues to expand in October. This led to a sharp recovery in the German blue chip index, Dax which is trading 0.59% higher having recovered from a loss of almost 1%.

Moreover, the Ten-year treasury yield hovers near a seven-day high of 0.893%. The yields have recovered from a record low of 0.716 hit last Thursday tracking the recovery in the equity markets.

German Ten-year yield

The yields have an immediate resistance of 0.893%, above which it can rise to 0.920%. On the other hand, a failure to sustain above the immediate support of 0.868% shall push the yield back to 0.811% level.

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